Neysaan Indian AI infrastructure startup, has secured backing from US private equity firm Blackstone as it scales domestic computing capacity amid India’s push to build domestic AI capabilities.
Blackstone and co-investors including Teachers’ Venture Growth, TVS Capital, 360 ONE Asset and Nexus Venture Partners have agreed to invest up to $600 million of seed equity in Neysa, giving Blackstone a majority stake, Blackstone and Neysa told TechCrunch. The Mumbai-based startup also plans to raise an additional $600 million in debt funding as it expands GPU capacity, a sharp increase from the $50 million it previously raised.
The deal comes as The demand for artificial intelligence computing is growing worldwidecreation supply constraints for specialized chips; and data center capacity required to train and run large models. Newer AI-centric infrastructure providers — often referred to as “neo-clouds” — have emerged to bridge this gap by offering dedicated GPU capacity and faster deployment than traditional hyperscalers, particularly for enterprises and AI labs with specific setup, latency or customization requirements.
Neysa is active in this emerging segment, positioning itself as a provider of GPU-first custom infrastructure for enterprises, government agencies and AI developers in India, where demand for on-premise computing is still at an early but rapidly growing stage.
“A lot of customers want hand-holding and a lot of them want 24/7 support with a 15-minute response and some of our resolutions. So those are the kinds of things that we provide and some of the hyperscalers don’t,” said Neysa co-founder and CEO Sharad Sanghi.
Ganesh Mani, senior managing director at Blackstone Private Equity, said his firm estimates India currently has fewer than 60,000 GPUs — and expects the number to scale nearly 30-fold to more than two million in the coming years.
That expansion is being driven by a combination of government demand, businesses in regulated sectors like financial services and healthcare that need to keep data local, and AI developers building models in India, Mani told TechCrunch. Global AI labs, many of which count India among their largest user bases, are also increasingly looking to deploy computing capacity closer to users to reduce latency and meet data demands.
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The investment also builds on Blackstone’s broader push into data center and AI infrastructure globally. The company has previously supported large-scale data center platforms such as QTS and AirTrunk, as well as specialist AI infrastructure providers including CoreWeave in the US and Firmus in Australia.
Neysa develops and operates GPU-based artificial intelligence infrastructure that enables enterprises, researchers and public sector customers to train, refine and deploy artificial intelligence models locally. The startup currently has about 1,200 GPUs live and plans to rapidly scale that capacity, aiming to deploy more than 20,000 GPUs over time as customer demand accelerates.
“We are seeing a demand that will more than triple our capacity next year,” Sanghi said. “Some of the conversations we’re having are at a fairly advanced stage. If they go through, then we could be looking at it sooner rather than later. We could be looking at the next nine months.”
Sanghi told TechCrunch that most of the new capital will be used to develop large-scale GPU clusters, including computing, networking and storage, while a smaller portion will go towards R&D and building Neysa’s software platforms for orchestration, observability and security.
Neysa aims to more than triple its revenue next year as demand for AI workloads accelerates, with ambitions to expand beyond India over time, Sanghi said. The startup was founded in 2023 and employs 110 people across offices in Mumbai, Bangalore and Chennai.
